Examlex
Airline deregulation led to the demise of many smaller airlines but large carriers were not materially affected.
Preexisting Duty
An obligation that a party is already legally bound to, which cannot serve as consideration for a new contract.
Forbearance to Sue
An agreement or arrangement where a party chooses not to pursue legal action in exchange for some form of compensation or under specific conditions.
Legal Claim
A formal assertion by a party seeking judicial relief due to another party's action or failure to act in accordance with the law.
Promisor
An individual or entity who makes a promise or agreement to perform a specified act or service for a promisee.
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